Hostess Union Clings to Hope

By

Rachel Feintzeig and

Mike Spector

Nov. 18, 2012 6:01 p.m. ET

The union that brought the 85-year-old baker of Twinkies and Wonder Bread to its knees is holding out hope that a buyer will salvage chunks of the company and send the union's members back to work, even as Hostess Brands Inc. gears up for a fire sale.

Hostess, the company behind treats snacked on for generations, is poised on Monday to present to a federal bankruptcy judge a plan to shut down 36 plants and sell off the company's business. The liquidation was sparked by a nationwide strike orchestrated by the snack...